Raymond James & Associates Raises Stock Holdings in Trane Technologies plc (NYSE:TT)

Raymond James & Associates grew its holdings in Trane Technologies plc (NYSE:TT) by 3.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,076,484 shares of the company’s stock after buying an additional 32,079 shares during the quarter. Raymond James & Associates owned 0.48% of Trane Technologies worth $418,462,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TT. GoalVest Advisory LLC raised its holdings in shares of Trane Technologies by 157.1% during the first quarter. GoalVest Advisory LLC now owns 90 shares of the company’s stock valued at $27,000 after acquiring an additional 55 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. purchased a new position in Trane Technologies in the 1st quarter valued at $27,000. BOK Financial Private Wealth Inc. acquired a new stake in Trane Technologies during the 1st quarter worth $30,000. Fortitude Family Office LLC grew its holdings in shares of Trane Technologies by 63.2% during the second quarter. Fortitude Family Office LLC now owns 111 shares of the company’s stock worth $37,000 after buying an additional 43 shares in the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Trane Technologies in the second quarter valued at about $39,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TT has been the subject of a number of recent research reports. Stephens reiterated an “equal weight” rating and issued a $350.00 price objective on shares of Trane Technologies in a report on Monday, August 5th. Morgan Stanley started coverage on Trane Technologies in a report on Friday, September 6th. They issued an “overweight” rating and a $425.00 price target for the company. The Goldman Sachs Group boosted their price objective on Trane Technologies from $364.00 to $407.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Royal Bank of Canada raised their target price on Trane Technologies from $334.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 1st. Finally, Barclays boosted their price target on shares of Trane Technologies from $394.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $373.58.

Insider Buying and Selling

In related news, CEO David S. Regnery sold 29,450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $321.25, for a total transaction of $9,460,812.50. Following the transaction, the chief executive officer now owns 132,946 shares of the company’s stock, valued at $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Raymond D. Pittard sold 1,805 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $328.65, for a total value of $593,213.25. Following the completion of the sale, the executive vice president now owns 83,517 shares in the company, valued at approximately $27,447,862.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David S. Regnery sold 29,450 shares of Trane Technologies stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $321.25, for a total value of $9,460,812.50. Following the completion of the sale, the chief executive officer now owns 132,946 shares in the company, valued at approximately $42,708,902.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Trane Technologies Stock Up 0.6 %

Shares of Trane Technologies stock traded up $2.40 during trading hours on Friday, hitting $402.54. The company had a trading volume of 879,840 shares, compared to its average volume of 1,097,868. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 0.84. The company’s 50-day moving average is $369.37 and its two-hundred day moving average is $339.21. The company has a market cap of $91.12 billion, a P/E ratio of 43.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.01. Trane Technologies plc has a twelve month low of $184.02 and a twelve month high of $406.96.

Trane Technologies (NYSE:TT) last posted its earnings results on Wednesday, July 31st. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.08 by $0.22. The business had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.13 billion. Trane Technologies had a return on equity of 33.97% and a net margin of 12.33%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 earnings per share. Analysts anticipate that Trane Technologies plc will post 10.88 earnings per share for the current fiscal year.

Trane Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 6th will be given a $0.84 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.36 annualized dividend and a yield of 0.83%. Trane Technologies’s dividend payout ratio (DPR) is 35.90%.

About Trane Technologies

Trane Technologies plc, together with its subsidiaries, designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, custom, and custom and transport refrigeration in Ireland and internationally. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps, auxiliary power units; chillers; coils and condensers; gensets; dehumidifiers; ductless; furnaces; home automation products; humidifiers; indoor air quality assessments and related products; large and light commercial unitary products; refrigerant reclamation products; thermostats/controls; transport heater products; variable refrigerant flow products; and water source heat pumps.